Hendley & Co. Inc. Has $215,000 Stake in Phillips 66 $PSX

Hendley & Co. Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 69.1% during the second quarter, HoldingsChannel reports. The firm owned 1,805 shares of the oil and gas company’s stock after selling 4,030 shares during the quarter. Hendley & Co. Inc.’s holdings in Phillips 66 were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. WealthTrust Axiom LLC boosted its stake in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC boosted its stake in shares of Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC boosted its stake in shares of Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC boosted its stake in shares of Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PSX shares. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research note on Wednesday, June 18th. Morgan Stanley lifted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Finally, Barclays lifted their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

Phillips 66 Stock Down 0.4%

Phillips 66 stock opened at $132.34 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The firm has a 50 day moving average price of $129.07 and a two-hundred day moving average price of $120.51. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 1.91 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the business earned $2.31 EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 in the last 90 days. 0.22% of the stock is owned by company insiders.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.